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On Wednesday, the US Federal Reserve chief on a report to Congress made it clear that he was ready to lower the rate. The market believes that the Fed will lower the rate at the meeting on July 31, by 0.25%. The market believes that the Fed will lower the rate again by 0.25% this year.
Fed Chairman Powell said that the US economy is strong enough, but the state of the global economy, against the background of trade contradictions (USA-China mostly) creates a negative background. At the same time, inflation remains low.
Thus, the head of the Fed actually conducted an intervention against the dollar.
Note that on the same day, the European Commission (in fact, the EU government) intervened against the euro: They lowered the forecast for inflation and economic growth.
As a result, the euro turned to growth.
EURUSD: We expect continued growth.
From the point of view of technical analysis, we buy from 1.1250 and further from 1.1325
A signal of cancellation of growth will be a breakthrough below 1.1190.
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